Zhongchang Marine receives subsidy

Guangzhou: Zhongchang Marine announced that its subsidiary Yangxi Zhongchang Marine has received a RMB20m subsidy from the Yangjiang government in Guangdong province.

Yangjiang government said in a release that the subsidy is to help shipping companies in the city get through current difficulties and stabilize the shipping market in the region.

Zhongchang Marine reported a net loss of RMB76.53m in the first nine months of this year. [10/12/13]

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